The first wave of year-end 2014 data on U.S. venture investment painted a portrait of a resurgent capital market. Investment activity reached its highest level of activity in a decade, finally shaking off the stagnation of the Great Recession (see last week’s article). Within the data, however, there were some concerning trends.
New Texas Gov. Greg Abbott recently announced several planned changes for the state’s economic development efforts. The governor is restructuring a number of offices, including the Workforce Investment Council and Women’s Commission under the Director of Economic Development, to increase focus on job creation. Abbott also proposed the elimination of the state’s Emerging Technology Fund, and using the programs remaining balances to launch a new University Research Initiative.
Advanced industries employ just 9 percent of the U.S. workforce, yet produce about 17 percent of all U.S.
President Obama’s proposed FY16 budget would provide $25 million for the EDA’s Regional Innovation program, a key legislative initiative for the technology-based economic development community. The Regional Innovation Program was authorized under the American COMPETES Act and is designed to provide funding to support regional innovation activities. The program received its first funding of $10 million in FY14 after extensive work on the Hill by SSTI, its members and others.
On Monday, President Obama released his $4 trillion budget request for FY16. His proposal is again unlikely to find support in Congress, but serves as a useful guide to the administration’s priorities and a source of new ideas.
The Department of Defense (DOD) released a federal funding opportunity (FFO) to establish the newest Institute for Manufacturing Innovation (IMI) focused on flexible hybrid electronics manufacturing. Administered by the Air Force Research Laboratory, the Flexible Hybrid Electronics is the seventh IMI to be established under the Obama administration and the fifth to be led by the DOD. Lead applicant eligibility is restricted to nonprofit organizations. However, applicants are encouraged to establish a regional consortium that includes members from academia, government and industry.
The Department of Energy’s Office of Energy Efficiency and Renewable Energy (EERE) announced that it will combine three existing programs (Incubator, SolarMat, and SUNPATH) into the Sunshot Technology to Market Program – a new funding program to support startups and other for-profit organizations as they bring disruptive solar innovations to the market place. Historically, the three programs that comprise the new program were separated by stage of technology development.
Ernest Moniz, the U.S. Secretary of Energy, announced the creation of the Jobs Strategy Council (JSC), an initiative to develop a methodology for providing consistent, usable data measuring energy job growth and help align workforce development systems with the needs of the clean energy industries through partnerships with the private sector, community college systems, union apprenticeship programs, and other educational institutions.
The U.S. Department of Commerce announced a second round of the Investing in Manufacturing Communities Partnership (IMCP) competition. IMCP, a cross-agency initiative, coordinates federal investments behind long-term economic development strategies in manufacturing communities. The first four designee communities were announced in May 2014.
SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.
As the federal and state governments look for methods to support the creation and retention of well-paying science and tech (S&T) and manufacturing jobs, two recent reports have found that R&D tax credits play a vital role in helping keep domestic R&D-intensive firms resilient from economic downtowns and competition from emerging economics.
Governors in Maryland, Minnesota, and Florida proposed substantial funds to higher education in their budgets this week, with an emphasis on affordable education and expanded research capacity.
In a report released by the Commission on Entrepreneurship and Middle-Class Jobs at this year’s Milstein Symposium, a convening held at the University of Virginia’s Miller Center dedicated to restoring the American Dream, the authors deliberate the significant barriers to American entrepreneurship and postulate potential policy recommendations. Ultimately, the authors propose five ideas that they believe would help rebuild the American dream by promoting entrepreneurship:
The Department of Energy’s (DOE) Advanced Research Projects Agency-Energy (ARPA-E) announced that it will commit up to $125 million for its 2015 OPEN competition to Support R&D projects on potentially disruptive new energy technologies. Applications should be able to address how the proposed technology will be able to make a significant impact in one of the three mission areas of ARPA-E – to reduce imported energy, to reduce energy-related emissions, and to improve energy efficiency.
SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.
This week, governor’s in eight states released their budget proposals. Balanced budgets and fiscal austerity were undoubtedly emphasized by the governors, yet funding for STEM education and workforce development initiatives were increasingly popular.
This week, New York Gov. Andrew Cuomo released his proposed 2015-16 budget, including an extensive slate of economic development and innovation initiatives for the state. The governor unveiled his plans in a press conference outlining his 2015 Opportunity Agenda in lieu of this year’s State of the State address. Gov.
New York Gov. Cuomo unveiled a $1 billion public-private broadband program to ensure every New Yorker has access to high-speed Internet by 2019. Utilizing capital funds from bank settlements, the state will commit $500 million to the New NY Broadband Program with the intent of incentivizing the private sector to invest the additional $500 million to expand high-speed broadband access in underserved and unserved areas. To receive funding, the proposed plan must meet three qualifications:
As governors around the country begin their newest terms, their proposed budgets are beginning to take shape. Although few governors specifically target technology based economic development, after the first wave of budgets a variety of initiatives related to workforce development and higher education have garnered support.
Pennsylvania’s largest universities by student population, Penn State and Temple University, both announced plans this week to make a concerted investment in their respective innovation ecosystems. Pennsylvania State University (PSU) President Eric Barron announced $30 million in new investments for economic development and student career students, while Temple University and Ben Franklin Partners of Southeastern Pennsylvania established a new startup accelerator to assist university ventures.
SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses.
President Barack Obama recently announced a pair of initiatives to provide American students better access to two-year degrees and technical training programs. Under the first program, American’s College Promise, the federal government would cover three-quarters of the cost of an average community college education for students who attend at least half-time and maintain a 2.5 GPA. States would be required to contribute the rest of the tuition funds.
As competition increases within the venture capital industry to fund the next Google or Uber, the most highly desirable startups often have multiple investment offers and must decide upon the best. There are several factors that can affect evaluation of potential equity investors. For many startups, the decision may focus solely on the terms of the deal.
Now in its 15th year, SSTI's Tech Talkin' Govs series has returned as governors across the country formally convene the 2015 legislative sessions. The series highlights new and expanded TBED proposals from governors' State of the State, Budget and Inaugural addresses. The first edition includes excerpts from speeches delivered in California, Kentucky, and Vermont.
President Obama recently announced that the University of Tennessee was awarded the $259 million Institute for Advanced Composites Manufacturing Innovation (IACMI). The U.S. Department of Energy will commit $70 million to support the project with the remaining $189 million coming from IACMI partners including $15 million from the Tennessee Department of Economic and Community Development.